Equipment acquired on January 8 at a cost of $137,550, has an estimated useful life of 16 years, has an estimated residual value of $9,550, and is depreciated by the straight-line method.

A.	What was the book value of the equipment at December 31 the end of the fourth year?
B.	Assuming that the equipment was sold on April 1 of the fifth year for $98,510, journalize the entries to record (1) depreciation for the three months until the sale date, and (2) the sale of the equipment. Refer to the Chart of Accounts for exact wording of account titles.